<p>Here is the second story I’ve seen announcing 6% growth in the economy. It sure doesn’t track with what we’re seeing here. Layoffs and unemployment are still rising, and the state government is projecting every larger deficits for the next two budget cycles. Is it just Connecticut? Are we the only ones who “missed the announcement” of happy days ahead?</p>
<p>Unemployment and foreclosures aren’t going away. Taxes in NY will rise astronomically due to union contracts (teacher, MTA, govt., police, firefighters). Even though consumers are spending, I hope they aren’t going back to their old ways of spending what they don’t have. As far as the economy, I think we ain’t seen nothin’ yet. It’s going to get a lot worse. Someone should send an e-mail to the economists to let them know this!</p>
<p>We havent seen the economic upswing either, nor has our neighboring state .maybe it will take more time to move west. A few years back we were fighting to keep Wal-Mart out …heck now were pleased we lost the fight and thrilled to see the construction of their new super center store.</p>
<p>I run a small company in Southern California (industrial distribution). We are experiencing a slight uptick this last quarter (around 10%) over last years miserable quarter. Most of my customers, both national and international are cautiously optimistic.
I do not, however, know of any increased hiring.</p>
<p>cnp, our local pet stores are packed like zoos, and I do not mean with the mice and hamsters desperately wanting to be sold, I mean they are packed with paying customers. Keeping fingers crossed for your business! </p>
<p>My industry has not experienced a huge uptick in hiring, however, the number of jobs posted on the local professional site is 4-5 times what it was last year. Maybe a tiny bit of light at the end of the tunnel… From what I hear, quite a few positions go unadvertised and get filled through referrals and head hunters.</p>
<p>“I run a small retail store in Fairfield County Ct. March sales numbers were amazing … and April is starting very strongly.”</p>
<p>Wow! We are also Fairfield County small retailers, and I wish I could say the same–year to date we are even with 2009. But that’s something, because 2009 was significantly worse than 2008, and 2008 significantly worse than 2007. The bleeding has stopped, but the patient is still critical. I guess we’re in the wrong line of business. Perhaps your store is catering to the bonus-blessed Wall Streeters who live in the county? We serve the common folk…</p>
<p>HI is unfortunately not doing well. We have a 1.3 billion deficit, cuts in pay, layoffs, unpaid furlough days, etc. Wish there were positive signs out there, but haven’t seen them yet.</p>
<p>Just because the recession is slowly starting to get better doesn’t mean that everyone, everywhere will be feeling better instantly. I wish it were so, but even during the last economic boom people were still hurting; why would it be different now?</p>
<p>HIMom, sadly, when a state’s economy heavily depends on tourism, that state tends to be the first one to go in recession and the last one to recover. Travel and vacations are the first things people cut off when they are worried about their finances. Hubby and I are working hard to help your state with our vacation dollars. :)</p>
<p>Thanks! Yes, I do recognize that our state is overly reliant on tourism. It is very tough when so many are struggling! The foodbank says that its numbers are swelling and folks haven’t recovered from two airlines going out of business two years ago–Aloha and ATA. It’s really pretty stressful around here for so many. There are lots more folks attending local Us and CCs because of the economy, which is prompting it to improve the housing options, at long last, for flagship U.</p>
<p>I fear that taxpayers in both NY and CT (and probably other states, too) are going to get spanked in the coming years as the underfunded public employee pensions become more and more severely underfunded. Retiree medical is at the heart of the problem. As costs rise (and they will inevitably continue to do so as people live longer and more treatments/medicines are available) for retiree medical benefits, state level taxes will have to go up, perhaps significantly. In the future, I think that states, in their negotiations with unions, are going to have to do what corporate America has done, and offer lump sum payouts for pensions instead of annuities, and retiree medical only to bridge the gap between retirement and Medicare eligibility.</p>
<p>At some point in the near future, the states are going to have to cough up a lot more money to prop up these plans. State support of local programs, like schools, will drop like a stone. Then local property taxes will rise, too.</p>
<p>I am one of those tired taxpayers who live in NY. For the past several years the property taxes have continued to go up at about twice the general inflation rate. Quite often the taxes fail on the first election. The second time around, the interested parties, inclucing all the teachers, vote and much of the general population does not turn out. Of course, if a tax increase does fail, there is holy h-ll to pay. Instead of applying a sane approach to manageing costs, the schools cut sports, after school activities and anything else to inflame the parents and kids.</p>
<p>There’s a discussion on this in the politics forum (we do financial and economy topics there too). My take is that multinationals that export a lot are doing well while the US domestic economy is very, very sluggish. That’s a setup for people working in multinationals feeling comfortable and those in domestic companies and small businesses in particular, feeling anxious.</p>
<p>What I am seeing, at least in my Hs company, is their hiring cheap labor internationally on temporary work visas. Irritates the snot outta me, especially since there are plenty of qualified US workers (they just dont want to pay them what they are worth) and they are putting some of these folks on jobs paid for with US stimulus $$ and on government contract jobs. Can you say hypocritical??? There are also restrictions on these workers thaat wouldnt be on US employees that makes it harder for the co to get the work done. Grrrr.</p>